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Khayal Mammadkhanli: Most undesirable trend is observed at insurance market

17.02.2020,16:02


February 17, Fineko/abc.az. Decline is observed on voluntary insurance and an increase on mandatory insurance.

Commenting on this question for ABC.AZ, insurance expert Khayal Mammadkhanli noted that one of the factors compensating for the serious decline in life insurance is the premiums on compulsory insurance.

According to the expert, compulsory insurance premiums collected for 2019 exceeds the 2018 indicator by AZN 33 million.

The expert says that the growth was observed on all types of compulsory insurance: "However, if to look at the general trend of the market, the results are disappointing. The most undesirable trend is observed for the insurance market. Insurance premiums are falling, and insurance payments are steadily increasing. In 2019 the insurance companies paid AZN 301 million that is by AZN 61 million more against 2018, i.e. by 25%."

By Elmir Murad